Yankees general manager Brian Cashman was a guest on MLB Network Radio from the winter meetings and dropped an interesting tidbit about the Robinson Cano negotiations, saying that Cano’s representatives made New York a counter-offer to re-sign for $235 million.

Numerous reports throughout the offseason suggested that Cashman and the Yankees wouldn’t go beyond around $175 million for Cano and definitely wouldn’t go past $200 million, but it’s noteworthy that he was in theory at least willing to take $5 million less to stay in New York.

Cano ended up signing a 10-year, $240 million deal with the Mariners and the Yankees basically spent that same money ($239 million, to be exact) on the Jacoby Ellsbury/Brian McCann duo.

But…but…but…that doesn’t fit the narrative that he was all about the money and hates New York and all New Yorkers and kicks little kittens and puppies, so I must ignore this post and pretend it never happened.

2% is $5,000,000.00 US currency. It would take the average American (at $50,000, 100 years to make that amount of money. Before Taxes.

See? I can have fun with math too to help distort my opinion.

The point is, if all he cared about was money, he would have taken the most money either way. And you know what? So would 99% of the population, no matter what they say when that situation is sure to NEVER happen to them except in fantasy land. And there is nothing wrong with that. Also, please stop acting like 2% of 240 million dollars is a paltry sum. It’s not. It’s very significant.

hep3 - Dec 10, 2013 at 4:14 PM

Remember there is no state income tax in Washington. Now in New York, a family making over $2 million pays $135,466 plus 8.82% of the amount over $2 million.

Based on $24 million per year, Cano’s tax bill would be $135,466 plus $1,940,400 for a total of $2,075,866 in New York State Income Tax. YOWZA!

I don’t know if there is a New York City tax. Also, I don’t know if a player would get a deal because he plays only half the games in the Big Apple.

No matter how you cut it, it is a huge tax bite.

jwbiii - Dec 10, 2013 at 6:04 PM

hep3, Yes, NYC has an income tax. It’s graduated with a top rate of 3.648% if you live in NYC. For this reason, Yankees tend to live in Westchester County (north ‘burbs) and Mets tend to live in Nassau County (east ‘burbs). Or maybe they just like having yards and other suburban stuff.

State taxes for professional athletes in general are pretty complicated. Every state taxes (except the states which don’t tax) athletes and entertainers based on how many days they spend making money in their state. You can approximate this using games, and that was the practice until recently. So if you’re a Yankee, you pay a top rate of 8.2% (marginal, top rate at $1.3m) on half of you games plus against the Mets; Massachusetts at 5.25% (flat); Maryland at 5.75% (m, $250k), Florida, none; Ontario (I did the research for Canada and Ontario, I don’t have it with me now, but it’s the highest); etc. As a Mariner, you don’t pay taxes in Washington, but do pay taxes in California, 12.3% (m, $500k); Texas, none; etc. (I have a college buddy who is an investment advisor/accountant for a major sports agency and handles taxes, among other things, for ballplayers.)

And the best player in Seahawk history isn’t Steve Largent or Walter Jones, it’s …Our Quaterback, you know, what’s his name…. Mizuno Rawlings….not that’s not it…..Big Bertha Titleist…..no…um…Russel Wilson. That’s it!

pisano - Dec 10, 2013 at 3:40 PM

Get over it, Cano’s history in NY, move on. The great Satchel Paige once said, “Don’t look back, someone might be gaining on you”

10 yrs / 235M is way too much for any player, let alone someone like Cano. He is a fine player, one of the top ten in the league, but his resume is dwarfed by the guys who received similar 10 year deals (PED aided or not). Both of those deals are disasters and this one will soon be.

The Yanks were ready to give him 25M / yr for 7 years. Less years, higher average. It was a deal that was closer to market value. Cano took the money and ran, period. I cannot blame him.

As a Yankee fan, I would rather have McCann and Ellsbury than Cano. Both contacts will be expired and Cano will have 3 years left as likely a below replacement value player.

There is something about having a 38 year old millstone making 24M / year with 3 years left on his contract that isn’t appealing. The Yankees currently know that feeling all too well.

Hey he was willing to give the Yankees a $500K a years discount, .. who says there is no home town discount?? Hey that’s like paying for a rookie EVERY YEAR!!

At this point does any of this really matter?? Say for argument’s sake he wanted to stay, .. and the Yankees wanted him back equally. Eventually they both stuck to their guns from a business standpoint. And, eventually they both got what they wanted, .. Cano the big contract, .. the Yankees avoiding another idiotic 10 year commitment to a 30 year old player. Win Win??

While the Yankees are likely in a better position handling that kind of contract, they already have enough of them. It was time to draw the line in the sand. The Mariners might have a much harder time of it, especially on the back end of this deal but they needed to make a “statement sighing” much like the Nats a few years ago with Wearth. I think it’s a terrible contract but I understand it. Only time will tell if it’s a bad deal or a real stinker.

In the final analysis, I appreciate all the production and defense from Cano while he was here because he was generally very very good and frequently spectacular. I wish him and the Yankees could of worked it out but not at $240 mil and more to the point not at 10 years, .. cause that’s the part that’s just nuts. Hail and fare well Robbie!

And still… the Yanks offered Canó $25 MM per season and Canó didn’t think it was good enough and that by the time he’d be a free agent, he might be “worth” at least $20-21 MM per year in a short contract, considering that right now the qualifying offer is set at $14 MM, I think it is probable that in 7 years it’ll be $20 MM or more.

10 yrs of Robbie Cano or 7 yrs of Ellsbury is ultimately what the Yanks decided on…does that sound like a fair deal? Which is the more likely scenario: Ellsbury being a productive CF/RF at 37 yrs of age and $21.9 mill or Cano being a productive 2b/DH at $24 mill at 37?

Interesting to note how the approximate amount Cano got paid for TWO quality FA. Which makes it safe to say that if the 310 was ever real in certainly WAS enough to sign three quality players. Where are all the folks that swore there was NO way you could fill 3 holes with good players for that amount of money now?

Because it wouldn’t have been $310 million spread over 10 years. McCann is getting $17 million/year. Ellsbury is getting $22 million/year. That’s $39 million per year as opposed to the $24 million/year Cano’s getting. The money saved in the out-years wouldn’t have helped the Yankees much in 2014.